May also witnessed a significant volume of early redemptions. Businesses repurchased bonds worth about 15.86 trillion VND before maturity - an increase of 6.7 % compared to the same period in 2024.
Real estate bonds issued from June-December are expected to be worth about 79.77 trillion VND. (Photo: chinhphu.vn)
Hanoi (VNS/VNA) - The Vietnam Bond Market Association (VBMA) reported that real estate firms issued seven separate bond lots in May with a combined value of more than 10.5 trillion VND (403.5 million USD).
Of which, Vingroup led the pack, issuing three batches totaling 6 trillion VND, according to the association.
Other notable issuers in May included Viet Minh Hoang Construction and Real Estate Investment JSC (about 3.47 trillion VND), AAC Vietnam JSC (500 billion VND), Song Phuong Industry - Real Estate and Construction LLC (388.5 billion VND), and Van Phu Real Estate Development JSC (150 billion VND).
VBMA data also revealed that in May, the whole market saw 42 separate bond issuances totaling 46.77 trillion VND. The banking sector continued to dominate the market, accounting for 28.72 trillion VND in bond issuance.
In addition to the surge in new bond issuances, May also witnessed a significant volume of early redemptions. Businesses repurchased bonds worth about 15.86 trillion VND before maturity - an increase of 6.7% compared to the same period in 2024.
Looking ahead, VBMA estimates that approximately 149.87 trillion VND in bonds will mature over the remaining seven months of 2025. Real estate bonds represent a significant portion of this amount, with about 79.77 trillion VND - or 53% - set to mature.
The bond market is expected to remain active, with two major upcoming issuance plans already announced. Of which, Asia Commercial Bank (ACB) has approved its second round of individual bond issuance for 2025, with a maximum value of 20 trillion VND.
These will be convertible, unsecured bonds with no warrants, featuring a face value of 100 million VND per bond and a maximum term of five years. The interest rate will be a mix of fixed and floating manners.
Meanwhile, Nam Long Investment Corporation plans to issue bonds worth up to 660 billion VND. These non-convertible, secured bonds carry a face value of 100 million VND each, a three-year term, and an annual interest rate of 11% for the first two periods.
The return of real estate firms to the bond market shows investor confidence and reduction of capital-raising difficulty faced by the sector in early 2025./.
The auctions offered 5-year, 10-year, 15-year, 20-year, and 30-year tenors, with the 10-year bonds having the highest share of the total issuance at 83.8%, or over 15.1 trillion VND.
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